Companies Act, 1990
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PART II Investigations | ||
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Investigation of company's affairs. |
7.—(1) The court may appoint one or more competent inspectors to investigate the affairs of a company in order to enquire into matters specified by the court and to report thereon in such manner as the court directs— | |
(a) in the case of a company having a share capital, on the application either of not less than 100 members or of a member or members holding not less than one-tenth of the paid up share capital of the company; | ||
(b) in the case of a company not having a share capital, on the application of not less than one-fifth in number of the persons on the company's register of members; | ||
(c) in any case, on the application of the company; | ||
(d) in any case, on the application of a director of the company; | ||
(e) in any case, on the application of a creditor of the company. | ||
(2) The application shall be supported by such evidence as the court may require, including such evidence as may be prescribed. | ||
(3) Where an application is made under this section, the court may require the applicant or applicants to give security, to an amount not less than £500 and not exceeding £100,000, for payment of the costs of the investigation. | ||
(4) Where the court appoints an inspector under this section or section 8 , it may, from time to time, give such directions as it thinks fit, whether to the inspector or otherwise, with a view to ensuring that the investigation is carried out as quickly and as inexpensively as possible. |